The Associated Press, in a report by climate and business reporter Alexa St. John, says Ford is scrapping the F-150 Lightning and shifting capital toward hybrids, extended-range EVs, and new gas-powered trucks after mounting losses and weaker-than-hyped demand. The company also plans plant changes, including renaming its Tennessee Electric Vehicle Center to the Tennessee Truck Plant and building affordable gas trucks there.
AP notes Ford has lost 13 billion dollars on EVs since 2023 and expects a 19.5 billion dollar hit largely in the fourth quarter tied to its EV business. CEO Jim Farley calls it a customer-driven shift to a stronger and more profitable Ford. The piece adds that EVs were about 8 percent of U.S. new vehicle sales last year and that price and charging remain hurdles.
The Bullet Point Brief
- Lightning unplugged. Ford will stop making the F-150 Lightning and redirect to an extended-range version and more hybrids and gas trucks. The market took the wheel.
- Billions burned. Ford tallies 13 billion dollars in EV losses since 2023 and projects a 19.5 billion dollar hit this quarter tied to EVs. Those zeros are not vibes.
- Plant pivot. Tennessee’s EV hub gets rebranded as a truck plant to build affordable gas pickups. Ohio will build a new gas and hybrid van. Reality beats press releases.
- Consumers hesitant. EVs were only 8 percent of U.S. sales last year. Price and charging access still spook mainstream buyers.
- Strategy reset. Ford now expects half its global volume to be hybrids, extended-range EVs, and full EVs by 2030, up from 17 percent this year. Not anti-tech. Pro-customer.
My Bottom Line
Who saw this coming? Everyone who owns a toolbox. Politicians tried to muscle the market, and automakers sprinted to please the politician instead of the person signing the note. Now Ford is eating losses and retooling plants while the guy who just wants a reliable gas F-150 to run his electrician business gets the bill.
Mandates are not demand. Voters cannot be shamed into range anxiety, and small businesses cannot make payroll on a charger that may or may not work. When policymakers treat preference and price as rounding errors, the cost rolls downhill to working families and the customers they serve.
Build what people actually buy. Make hybrids and extended-range options that fit budgets and jobs. Keep gas trucks in the lineup that can haul, plow, and tow without a spreadsheet. Innovate, absolutely. But let innovation win on merit, not on subsidies and threats. The free market just left a voicemail. It said, Stop lecturing and start listening.
Source: The Associated Press
